Bhutan Taps Bitdeer as Partner to Raise $500M in Funding for Bitcoin Mining
Bhutan plans to establish a $500M fund to finance crypto-mining projects and related infrastructure to generate revenue and boost its economy. Jihan Wu's Bitdeer, a leading provider of cloud-based crypto mining services, is expected to collaborate on various mining projects. Singapore-based Bitdeer will serve as the overall partner of the fund, while Druk Holding & Investments will act as a strategic partner.
Bitcoin’s Next Halving is Coming: What It Means for the Future of Cryptocurrency
Everyone’s talking about the next Bitcoin Halving event. But what does the word even mean? And how is it going to affect simple folks like me and you? Let’s find out.
Mawson Infrastructure Group Secures New Bitcoin Mining Site in Ohio with Plans for Expansion
Bitcoin mining firm Mawson Infrastructure Group has secured a new mining site in Corning, Ohio, with plans to set up its miners at the location by Q3 2023 and raise the operation's hashpower by 1 exahash per second (EH/s). The new site will offer a starting capacity of 24 MW, with plans to expand to an additional 26 MW.
Bitfarms Bitcoin Production Declined 10% in April Despite Hashrate Growth
Bitcoin (BTC) mining firm Bitfarms said its production decreased 10.6% to 379 BTC in April despite its corporate hashrate growing by 4% to 5.0 EH/s.
Inside Bhutan’s Secretive Bitcoin Mining Operation
Bhutan’s clandestine entry into the world of cryptocurrency mining has recently come to light, raising many questions about the depth of its involvement. Druk Holding & Investments, the state-owned holding company, has confirmed its foray into the mining space, but what has driven this secretive mission?
Bitcoin Mining Firm Bitfarms Regains Compliance With Nasdaq Listing Requirements
Bitcoin mining firm Bitfarms has regained compliance with Nasdaq listing requirements, according to a press release on May 1. The Bitcoin mining firm faced potential delisting from Nasdaq after its stock price continued to trade under $1 for several months. However, the recent rally in Bitcoin and rising mining activity helped Bitfarms regain compliance with the minimum bid price requirement of $1 per share under the Nasdaq Listing Rule 5550(a)(2).
Bhutan Quietly Operates Bitcoin Mining Operation Powered by Hydroelectric Resources
Bhutan, the small kingdom known for measuring Gross National Happiness, has reportedly been operating a Bitcoin mining operation using its abundant hydroelectric resources. According to Forbes, Bhutan started developing state-run mining operations in 2020 to use the country's hydroelectric plants to power Bitcoin mining machines, which solve complex mathematical problems to earn Bitcoin rewards.
Mineflation: Cost to mine one Bitcoin in the US rises from $5K to $17K in 2023
Bitcoin mining expenses in the US have risen to at least $17,000 per BTC due to soaring electricity rates across the states, leading to increased operational costs and lower returns. However, in Q1 2023, the miners' hash price rose 31% due to Bitcoin's price recovery. New Mexico emerged as the cheapest state for Bitcoin miners, while Hawaii was the most expensive.
Bhutan's Government-Owned Holding Company Confirms Years-Long Bitcoin Mining Operations
Bhutan's only government-owned holding company, Druk Holding and Investments, has confirmed that it has been mining Bitcoin for several years as part of its diversified portfolio. The company's investment in Bitcoin mining is a strategic move and not driven by FOMO. DHI assured that risks associated with cryptocurrencies are mitigated as the company is not involved in direct selling and buying digital assets.
As Bitcoin Mining Difficulty Hits Record High, We Examine Its Impact on Market Dynamics
Earlier today, crypto analyst “Crypto Rand” highlighted a significant rise in Bitcoin Mining Difficulty – a surge of over 30% since January 13, 2023.
